Thursday, June 2, 2011

Goldman Sachs: How the mighty fall

Goldman Sachs © fintag

News comments:
Those of you who were with me during the credit crunch recall I frequently said Goldman Sachs would be caught out.

They have had a few shaves and paid a few dollars in fines. The firm itself is internally in turmoil as it tries to reinvent what its brand is. There is a great book on the history of Goldman and when the institution started out, the Client came first. In recent years Goldman and its partners came first and the Client was there to be screwed.

The hysterically funny Libyian trade is a example (telegraph).

Bloomberg reports subpoenas are out.

Today's shorts:
Goldman Sachs (guardian)

Today's longs:
Goldman Sachs - still a great place to work for (GS)

Goldman Sachs to rename itself Fluffy Puppy.